Raimon Land Plc (RML), one of Thailand’s most prominent SET-listed developers is focused on targeting the upper-end segment of the market with plans to launch two new high-end residential projects. Combined, the projects will be worth 10.6 billion baht and will be located within the Sathorn area.
Chief Executive of Raimon Land, Johnson Tan told the press that the company is strategically positioning itself to develop projects that will produce a high margin. This strategy has been proven by its already existing project 185 Rajadamri, currently known as one of the most luxurious projects in Thailand, which recently hit a project value of 10.2 billion baht, up from 9.75 billion in 2012.
Raimon Land plans on building a project that is a semi-detached house project worth 600 million baht on a 1.7-rai plot of land located on Soi Yen Akat 2. It will include nine units priced starting at 65 million baht, to be launched early next year. This is an answer to the residential supply in the downtown areas of Bangkok, which are currently restrained from rising land prices and scarcity of land.
There is currently a 77% take up rate for luxury presale condos in the area, according to CBRE Thailand. The supply of luxury grade condos accounts for less than 20% of the total supply downtown.
